SINGAPORE stocks began the week in the black, with the benchmark Straits Times Index (STI) gaining 57.31 points or 1.9 per cent to close at 3,071.16.

Of the STI constituents, Jardine Strategic Holdings (JSH) and Jardine Matheson Holdings (JMH) were top performers of the day. JSH gained 19.49 per cent or US$5.35 to close at US$32.80; JMH gained 15.48 per cent or US$8.31 to close at US$62.

Analysts have noted that the offer price for JSH is at a significant discount to its net asset value for a done deal, through which the Jardine empire will untangle its decades-old cross-holding through JMH buying out the remaining stake in JSH.

Mapletree Industrial Trust ended up at the bottom of the index, sliding 2.29 per cent or S$0.06 to close at S$2.56. Keppel DC Reit and Ascendas Reit were also among the worst STI performers for the day. Keppel DC Reit fell 2.25 per cent or S$0.06 to close at S$2.61, while Ascendas Reit closed down 2.05 per cent or S$0.06 at S$2.87.

On the broader market, decliners outnumbered 275 to 237 for the day, with 2.07 billion securities worth S$1.91 billion changing hands.

Across the region, Asian markets ended the day in the red. The Hang Seng Index fell 1.92 per cent or 557.46 points to close at 28,450.83, while the Nikkei 225 Index ended 0.42 per cent or 121.07 points down at 28,743.25

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